Xcel Energy Boosts Dividend 3.7%
Xcel Energy announced today that it is increasing its quarterly dividend by 3.7% to $0.28 per share.
"A growing dividend contributes to the total return opportunity we offer investors," said Chairman, President, and CEO Ben Fowke in a statement. "Our objective is to grow the dividend 2-4 percent annually, and this year we are pleased to announce that we have increased the dividend 3.7 percent."
Xcel Energy has steadily increased its dividend over the last five years (and before), but an even steeper rise in share prices has pushed its overall yield down from 5.5% in 2009 to 3.5% today.
The newly improved dividend will be payable July 20 to shareholders of record on June 20.
The article Xcel Energy Boosts Dividend 3.7% originally appeared on Fool.com.Motley Fool contributor Justin Loiseau has no position in any stocks mentioned, but he does use electricity. You can follow him on Twitter @TMFJLo and on Motley Fool CAPS @TMFJLo.The Motley Fool has no position in any of the stocks mentioned, either. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.